Whether it’s in high school or university, travelling abroad to obtain an education has become a growing trend among young Canadians. But while the excitement of living abroad appeals to many students, parents are likely bearing the financial burden that comes with providing these opportunities for their kids.
The TFSA has been around for a decade, but as CTV's Chief Financial Commentator Pattie Lovett-Reid explains, that doesn’t mean we are using them to get the biggest bang for our buck.
Financial advisers say even very rich clients often have a crippling reluctance to fully enjoy their money.
The credit reporting agency says total millennial debt was up by 12.3 per cent at mid-year compared with a year ago to hit $515.9 billion, just ahead of the $514.3 billion owed by boomers but still behind the $767.4 billion held by Gen X.
The survey found that 43 per cent of Canadians are misinformed about the TFSA, believing the accounts are for savings and not for growing investments.
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